Wednesday, June 30, 2010

Re: [ConservativeOptionStrategies] Re: OHLC Data on Options?

 

I don't see any options on OEX for January 2011. Here's an example of the OHLC history OptionsXPress has for the OEX Dec 2011 $500 Put:

DateUnderlying CloseOpenHighLowCloseVolumeOpen Interest
6/30/2010 467.65 0.00 0.00 0.00 63.00 0 55
6/29/2010 472.39 0.00 0.00 0.00 63.00 0 55
6/28/2010 486.18 0.00 0.00 0.00 63.00 0 55
6/25/2010 486.62 0.00 0.00 0.00 63.00 0 55
6/24/2010 486.67 0.00 0.00 0.00 63.00 0 55
6/23/2010 494.40 0.00 0.00 0.00 63.00 0 55
6/22/2010 496.19 0.00 0.00 0.00 63.00 0 55
6/21/2010 502.86 0.00 0.00 0.00 63.00 0 55
6/18/2010 504.70 0.00 0.00 0.00 63.00 0 55
6/17/2010 503.54 63.00 63.00 63.00 63.00 5 55
6/16/2010 502.60 0.00 0.00 0.00 72.00 0 55
6/15/2010 502.59 0.00 0.00 0.00 72.00 0 55
6/14/2010 491.45 0.00 0.00 0.00 72.00 0 55
6/11/2010 493.02 0.00 0.00 0.00 72.00 0 55
6/10/2010 491.42 72.00 72.00 72.00 72.00 1 56


On Wed, Jun 30, 2010 at 9:20 AM, bpstocks00 <bpstocks@verizon.net> wrote:


Uhh... No.

Thanks to all who replied to my original post, but I'm looking for

OPEN-HI-LO-CLOSE data (daily at end of day) for INDEX OPTIONS.

I checked the sources and they all list OHLC for the Index itself -- like OEX -- but I want the (for example) OEX Jan 11 $500 Put.

Or

They provide Bid/Ask quotes for the options, but I want the OHLC information.

Anyone have a clue to that kind of data?

Thanks.

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[ConservativeOptionStrategies] FSYS need advise?

 

New to board and really happy to be here. I think this market may have shown its bear claws

I have 1000 shares of MEE bought at 42 and now its at 27.50 no current calls or puts

What on earth can I do now?? I'm really in a jam

Thanks in advance

Jeff
Sent from my Verizon Wireless BlackBerry

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[ConservativeOptionStrategies] DLS in XLE Question

 

I have a diagonal leap put spread going in XLE (current price 49.68). Here are the details:

long 13 XLE Jan12 80 puts cost basis 24.35 (current price 31.65) delta -.95

Short 5 Jul 55 puts cost basis 1.59 (current price 5.75) Delta -.91

Short 5 Jul 56 puts cost basis 1.98 (current price 6.70) Delta -.94

The delta of the entire position stands at -296.20. I'm at a loss as to what to do with this position. I'm sure the huge negative delta is due to the 3 more leaps I have than short puts. I've been reluctant to take off the shorts since my history dictates that as soon as I do, the underlying changes direction and starts shooting up.

Any Suggestions?

Thanks,
RFH

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[ConservativeOptionStrategies] Re: Covered Call on Sprint (S)

 

Hi Demond,

A couple of points to consider:

1) When you lower your cost basis by subtracting the premium, you must increase the cost basis when you buy the option back.

In this case, you have to increase the cost basis for the underlying by $1 when you buy the June Call on 18 Jun.
You can't just count the winners. :)

2) You have to know that you're taking on risk when you do anything in the market.  So, when you sell a call, you risk that the call will increase in price (as the stock increases).  So be careful of "booking the premium" as profit, when it could turn into a loss.

Of course, you can just deliver the stock, and that will let you keep the profit and any (possible) capital gain.

3) So... when you sell the Jan calls, for $73, can you really say the premium has been "earned" and you have the money?  Not really, because a lot can happen between now and Jan. 

I like to recalculate my adjusted cost basis when the option expires (or I sell it).  That way I don't fool myself into thinking that I could (for example) sell S at $450 and make a profit because the "new cost basis" is $439.  It's not $439 until Jan rolls around.

Remember that selling a call obligates you to deliver some stock if the other party exercises.  And it's all his choice.

--Just some points to keep in mind.

Bill


--- In ConservativeOptionStrategies@yahoogroups.com, "demond_johnson@..." <demond_johnson@...> wrote:
>
> Hello Everyone,
>
> My name is Demond Johnson. I am 37 years old and I am form Phoenix Az. I want to say thanks for adding me to the group, and look forward to trading ideas investing. I did a covered call on Sprint last month. Here is the trade break down.
>
> On May 27th, 2010, I purchased 100 shares of Sprint for 527.95 (Comm. included), I then sold a 5 dollar June Call for 23.03. This reduced my original cost basis down to 504.92 dollars. (The Math: 527.95-23.03=504.92)
>
> On June 18th, 2010, Sprint (S) was below 5 dollars. The value of 5 dollar June call was now 1 dollar. I closed the position for 4.48 (1+ 7.48 comm.)and got 14.54 after commission. This equaled an uncalled return of 2.8% for the month (The math(14.54/504.92=.028).
>
> Because the July calls did not yield atleat 2%, I sold the 5 dollar Jan 2011 Calls for 73.51 after commission. My cost basis has now been reduced from 504.92 down to 439.49(The math:(504.92+8.48-73.51= 439.49).
>
> Anyway, Thanks for your time and I look forward to seeing the learning what other members of the group are doing. Have a great Day.
>
> Sincerely,
>
> D. Johnson
>

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[ConservativeOptionStrategies] Re: OHLC Data on Options?

 

Uhh... No.

Thanks to all who replied to my original post, but I'm looking for

OPEN-HI-LO-CLOSE data (daily at end of day) for INDEX OPTIONS.

I checked the sources and they all list OHLC for the Index itself -- like OEX -- but I want the (for example) OEX Jan 11 $500 Put.

Or

They provide Bid/Ask quotes for the options, but I want the OHLC information.

Anyone have a clue to that kind of data?

Thanks.


--- In ConservativeOptionStrategies@yahoogroups.com, "ManlyMail" <dvirga@...> wrote:
>
> If you don't use charting software to do this, is this something you might be interested in?
>
> http://stockcharts.com/h-sc/ui?s=$RUT&p=D&b=5&g=0&id=p86996392624
>
>
> Dan V
>
> ----- Original Message -----
> From: bpstocks00
> To: ConservativeOptionStrategies@yahoogroups.com
> Sent: Tuesday, June 29, 2010 8:31 AM
> Subject: [ConservativeOptionStrategies] OHLC Data on Options?
>
>
>
> Does anyone know where I can get end of day data showing OHLC for index options?
>
> Thanks in advance.
>

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RE: [ConservativeOptionStrategies] VVUS again

 

There will be many differences of opinion but I do condors every month and the way I figure profit is that I take the margin required to put the spread on, (margin  should only be required on one side of the condor but there are some brokers that take it on both, if yours hits you for double margin you should consider another broker) and divide into that the premium received and that is my max profit percent. When the trade is done I use the actual premium kept / margin to get the final figure. Margin should be spread between the short and long of one of the pairs – premium received, since this is your max loss at expiration (if it is truly an IC and is balanced on both wings). In your case the margin required would be $100 (spread between short and long call - $60 (premium taken in) - $40 margin (and max loss) and max profit % would be 60/40 =  150%. This is HIGHLY unusual for an IC to show a potential return of that size and it is due to what everyone on the boards has been discussing about VVUS, the FDA committee’s pending recommendation. Your profit range at the prices you quoted are from $5.40 to $15.60. You keep all the premium you took in between $6 and $15 and max loss is under %5 or over $16.

 

One of the major factors, other than price that affects IC’s is volatility, so large volatility swings will also affect your “interim” profit and loss, but at expiration, all vol is 0, so if VVUS is still between the strikes you keep everything. Just the pain of waiting until expiration may get more or less depending on vol and also gamma changes as price nears one or the other short strikes. Remember, max loss  and max profit is ONLY an expiration number.

 

Hope this helps.

 

Ken

 

 

From: ConservativeOptionStrategies@yahoogroups.com [mailto:ConservativeOptionStrategies@yahoogroups.com] On Behalf Of Louis
Sent: Wednesday, June 30, 2010 12:18 AM
To: ConservativeOptionStrategies@yahoogroups.com
Subject: [ConservativeOptionStrategies] VVUS again

 

 

I finally took a little bite and entered an order for a couple of contracts on a condor. This is my first condor so I just want to get my feet wet without getting nervous.
The details (all July): long put @ 5, short put @ 6, short call @ 15, long call @ 16. Net credit if filled .60 (between bid/ask).
Max profit 60 between 6 and 15; max loss 40 below 5 or above 16; breakevens at 5.40 and 15.60. It appears to be a fairly conservative position.
Two questions I have:
First, how do I figure profit? I'm guessing something like the difference between the short strike exposures (900) divided by the profit or loss, so that if I made the max profit of 60, the profit would be 60/900 or 7%? Somehow that doesn't seem correct. It would intuitively seem to me to be 100%, but if that were the case, how would I figure a $30 profit, or a $20 loss?
Second, what surprises should I be watching for (other than the obvious possible major price swing)?
Lou

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[ConservativeOptionStrategies] Re: Covered Call on Sprint (S)

 

Hello Demond,
Welcome and Happy Trading! I'm wondering, if you don't mind, what is your trading plan? Are you intending to hold the sahres long term and end up owning them for free by selling multiple calls? Or are you lloking to be called out?

OptionsMike
www.safe-options-trading-income.com

--- In ConservativeOptionStrategies@yahoogroups.com, "demond_johnson@..." <demond_johnson@...> wrote:
>
> Hello Everyone,
>
> My name is Demond Johnson. I am 37 years old and I am form Phoenix Az. I want to say thanks for adding me to the group, and look forward to trading ideas investing. I did a covered call on Sprint last month. Here is the trade break down.
>
> On May 27th, 2010, I purchased 100 shares of Sprint for 527.95 (Comm. included), I then sold a 5 dollar June Call for 23.03. This reduced my original cost basis down to 504.92 dollars. (The Math: 527.95-23.03=504.92)
>
> On June 18th, 2010, Sprint (S) was below 5 dollars. The value of 5 dollar June call was now 1 dollar. I closed the position for 4.48 (1+ 7.48 comm.)and got 14.54 after commission. This equaled an uncalled return of 2.8% for the month (The math(14.54/504.92=.028).
>
> Because the July calls did not yield atleat 2%, I sold the 5 dollar Jan 2011 Calls for 73.51 after commission. My cost basis has now been reduced from 504.92 down to 439.49(The math:(504.92+8.48-73.51= 439.49).
>
> Anyway, Thanks for your time and I look forward to seeing the learning what other members of the group are doing. Have a great Day.
>
> Sincerely,
>
> D. Johnson
>

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Re: [ConservativeOptionStrategies] VVUS again

 

I did a condor trade once using 6 contracts,did the appropriate management moves when the markets turned directional..lost $6350,could have lost alot more..sure was fun..."not".
 
Fred

From: Louis <loupi3@yahoo.com>
To: ConservativeOptionStrategies@yahoogroups.com
Sent: Tue, June 29, 2010 11:18:10 PM
Subject: [ConservativeOptionStrategies] VVUS again

 

I finally took a little bite and entered an order for a couple of contracts on a condor. This is my first condor so I just want to get my feet wet without getting nervous.
The details (all July): long put @ 5, short put @ 6, short call @ 15, long call @ 16. Net credit if filled .60 (between bid/ask).
Max profit 60 between 6 and 15; max loss 40 below 5 or above 16; breakevens at 5.40 and 15.60. It appears to be a fairly conservative position.
Two questions I have:
First, how do I figure profit? I'm guessing something like the difference between the short strike exposures (900) divided by the profit or loss, so that if I made the max profit of 60, the profit would be 60/900 or 7%? Somehow that doesn't seem correct. It would intuitively seem to me to be 100%, but if that were the case, how would I figure a $30 profit, or a $20 loss?
Second, what surprises should I be watching for (other than the obvious possible major price swing)?
Lou


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Re: [ConservativeOptionStrategies] VVUS again

 

Louis,

Spreads are $1.00 wide - $.60 Credit = .40 Risk, Return = Reward / Risk
or .60/.40 = 1.5 or 150%

Great Trade and Risk Reward.

David

Louis wrote:
> I finally took a little bite and entered an order for a couple of contracts on a condor. This is my first condor so I just want to get my feet wet without getting nervous.
> The details (all July): long put @ 5, short put @ 6, short call @ 15, long call @ 16. Net credit if filled .60 (between bid/ask).
> Max profit 60 between 6 and 15; max loss 40 below 5 or above 16; breakevens at 5.40 and 15.60. It appears to be a fairly conservative position.
> Two questions I have:
> First, how do I figure profit? I'm guessing something like the difference between the short strike exposures (900) divided by the profit or loss, so that if I made the max profit of 60, the profit would be 60/900 or 7%? Somehow that doesn't seem correct. It would intuitively seem to me to be 100%, but if that were the case, how would I figure a $30 profit, or a $20 loss?
> Second, what surprises should I be watching for (other than the obvious possible major price swing)?
> Lou
>
>
>
> ------------------------------------
>
> Yahoo! Groups Links
>
>
>
>

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Tuesday, June 29, 2010

[ConservativeOptionStrategies] VVUS again

 

I finally took a little bite and entered an order for a couple of contracts on a condor. This is my first condor so I just want to get my feet wet without getting nervous.
The details (all July): long put @ 5, short put @ 6, short call @ 15, long call @ 16. Net credit if filled .60 (between bid/ask).
Max profit 60 between 6 and 15; max loss 40 below 5 or above 16; breakevens at 5.40 and 15.60. It appears to be a fairly conservative position.
Two questions I have:
First, how do I figure profit? I'm guessing something like the difference between the short strike exposures (900) divided by the profit or loss, so that if I made the max profit of 60, the profit would be 60/900 or 7%? Somehow that doesn't seem correct. It would intuitively seem to me to be 100%, but if that were the case, how would I figure a $30 profit, or a $20 loss?
Second, what surprises should I be watching for (other than the obvious possible major price swing)?
Lou

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